$25M Settlement Reached in Home Depot Data Breach Class Action

This is a settlement for the Data Breach lawsuit.


Santa Clara, CA: A $25 million settlement has been reached between Home Depot and financial institutions who brought a class action against the home hardware retailer alleging it was negligent in preventing a massive data breach in 2014.

The putative class action alleged that the data breach compromised 56 million credit and debit card numbers of Home Depot customers.

According to court documents, if approved, the settlement would require Home Depot to pay $25 million into a non-revisionary fund to be distributed to financial institutions that have not already released their claims against the retailer for losses stemming from the catastrophic data breach.

For financial institutions with a valid claim, a fixed payment estimated to be $2 per compromised card could be forthcoming, without the institutions having to submit documentation of their losses and regardless of whether any compensation already has been received from another source, according to the agreement.

Class members that submit proof of losses also are eligible for a supplemental award of up to 60 percent of their documented, uncompensated losses from the data breach, documents state.

The retailer also has agreed to pay up to $2.225 million to institutions whose claims were released by a sponsor, such as a card processor, in connection with the card brand recovery program provided by MasterCard.

The MDL is In Re: The Home Depot Inc., Customer Data Security Breach Litigation, case number 1:14-md-02583, in the U.S. District Court for the Northern District of Georgia.

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Reader Comments

Posted by
joyce a martin
on
they locked me out red flaged and i had to wait two week for new card and redo all financial and what ever else linked put flag on credit report

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